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Carbon Motors files for $310 million loan

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Carbon Motors yesterday filed for a $310 million federal loan to help it begin producing high-tech police cars in Connersville.

The Atlanta-based company submitted its application to the U.S. Department of Energy under the Advanced Technology Vehicles Manufacturing Incentive Program.

The federal program provides loans to automobile and parts manufacturers for the cost of re-equipping, expanding or establishing U.S. manufacturing facilities to produce advanced-technology vehicles or qualified components.

Carbon Motors announced on July 29 that it had selected the Fayette County community of Connersville in mideastern Indiana to manufacture its Carbon E7 police cruiser in a 1.8-million-square-foot facility formerly occupied by Visteon Corp.

The company plans to begin production with about 200 employees and ultimately could employ 1,000 - a huge coup for a county in which the unemployment rate is hovering at 16 percent.
 
 
 

"Our application unequivocally meets or exceeds all technical, business and legal requirements of the loan program, and we believe the U.S. Department of Energy will quickly realize that it is in the national security and socioeconomic interests of the United States of America that the Carbon E7 vehicle be expedited to production," company CEO William Santana Li said in a prepared statement.

The Carbon E7 runs on clean diesel and biodiesel technology. The company said it already has orders for 10,000 cars.

Despite the enthusiasm, Carbon Motors is not a sure thing. The company is a startup and has yet to begin producing any vehicles.

The Indiana Economic Development Corp. has not ironed out details of the incentive package it will offer Carbon Motors for choosing to locate in Connersville. Part of that package hinges on Carbon's ability to attract federal funding.


 
 
 

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  1. If I were a developer I would be looking at the Fountain Square and Fletcher Place neighborhoods instead of Broad Ripple. I would avoid the dysfunctional BRVA with all of their headaches. It's like deciding between a Blackberry or an iPhone 5s smartphone. BR is greatly in need of updates. It has become stale and outdated. Whereas Fountain Square, Fletcher Place and Mass Ave have become the "new" Broad Ripples. Every time I see people on the strip in BR on the weekend I want to ask them, "How is it you are not familiar with Fountain Square or Mass Ave? You have choices and you choose BR?" Long vacant storefronts like the old Scholar's Inn Bake House and ZA, both on prominent corners, hurt the village's image. Many business on the strip could use updated facades. Cigarette butt covered sidewalks and graffiti covered walls don't help either. The whole strip just looks like it needs to be power washed. I know there is more to the BRV than the 700-1100 blocks of Broad Ripple Ave, but that is what people see when they think of BR. It will always be a nice place live, but is quickly becoming a not-so-nice place to visit.

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